This incredible footage looks more like a rocket launch than part of a redevelopment project.

This video captures the jaw-dropping moment a 40-metre chimney comes crashing down in Oldham, Greater Manchester.

The blast can first be seen at the base and the huge structure starts to buckle.

It then crumbles and topples backwards sending up a cloud of dust upon hitting the ground.

It was blown up at the Durban Mill site in Hollinwood.

Demolition: The 40 metre high chimney was blown up as part of a new development (Image: MEN)

Nearby residents were evacuated and an exclusion zone put in place for the operation on Sunday morning.

When the clock struck 10am, demolition experts lit the explosives and brought the 650-tonne structure plunging to the ground.

Children and adults gathered around the site to watch the spectacle, while evacuated residents enjoyed refreshments in a nearby parish hall, reports Manchester Evening News .

The chimney felling itself lasted less than one second and is part of the re-development of Durban Mill.

Landmark: The 40 metre high chimney could be seen for miles around (Image: MEN)

The derelict building, which used to be Findel’s base, sits on a 4.6 acre plot in Hollinwood.

Local developer Grasscroft Property has bought the mill and plans to build up to 80 two, three and four bedroom homes.

The next stage will be the ‘soft demolition’ of the mill over a three month period.

Both contracts are being undertaken by Lymm-based ADM Regeneration.

Around 96 per cent of the materials extracted from the site demolition will be recycled and reclaimed including floor boards, bricks, steel, basement flags and Lancashire boilers.

Entertainment: Crowds gathered to watch the explosion (Image: MEN)

Grasscroft’s will be working with Countryside Properties to draw up residential plans for the site.

A planning application is expected to be submitted to Oldham Council in the new year.

Mike Coulter, managing director at Grasscroft Property, said: “The demolition works on site and the exchange of contracts with Countryside Properties mark the first step towards seeing the Durban Mill site fully regenerated.

“After a period of dereliction, it’s fantastic to be able to create the conditions for the site to be brought back into its full potential with a much needed, contemporary residential development.”